Freshpet (NASDAQ:FRPT) Price Target Raised to $93.00 at Benchmark

Freshpet (NASDAQ:FRPT) had its price objective upped by Benchmark from $90.00 to $93.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on the company. Bank of America raised their target price on Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Oppenheimer raised shares of Freshpet from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Friday. Wells Fargo & Company raised their price objective on shares of Freshpet from $82.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. TD Cowen reaffirmed a “hold” rating on shares of Freshpet in a research note on Tuesday, March 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Monday, December 15th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.88.

Freshpet Trading Up 0.2%

NASDAQ:FRPT opened at $64.68 on Monday. The company has a market cap of $3.17 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.09 and a beta of 1.66. The stock’s fifty day moving average price is $72.68 and its two-hundred day moving average price is $62.17. Freshpet has a 1 year low of $46.76 and a 1 year high of $89.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.54 and a quick ratio of 4.57.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.21. Freshpet had a return on equity of 6.93% and a net margin of 12.63%.The firm had revenue of $285.23 million during the quarter, compared to analyst estimates of $285.66 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that Freshpet will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Freshpet

Hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in shares of Freshpet in the 4th quarter worth about $757,000. Corient Private Wealth LLC purchased a new position in shares of Freshpet during the 4th quarter valued at about $227,000. Caitong International Asset Management Co. Ltd lifted its position in Freshpet by 606.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after buying an additional 358 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Freshpet by 68.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,110 shares of the company’s stock worth $555,000 after buying an additional 3,705 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Freshpet in the fourth quarter worth approximately $361,000.

Freshpet Company Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.